Architect Fees Range From 4% -6% (on The Building Cost) But You Can Agree Also On A Fixed Fee

Category: Finance.

There is no difficulty in finding apartments to buy in any of the towns in Cyprus.

There is also a tendency to sell apartments" on paper" . (ie when construction plans are still on the drawing board) , or during construction, as a means of raising part of the finance for the project. Land development into apartments is very common and there is an abundance available for sale at any time all over Cyprus, the vast majority being very new. Apartment prices are not uniform. Charges for utilities are payable to the respective authorities at regular intervals throughout the year. They vary to a great extent with the location, the quality of the project and the town where they are situated. They are based strictly on the consumption of each unit.

If there is a building on the plot you are buying, ask for the building permit in order to make sure that the structure is not illegal, as well as to ascertain the terms and conditions of the building. While the cost will vary, approximately CY180 per year can be considered a rough guide. Please note that most of the above problems do not exist in case you buy a building site( as opposed to a plot of land/ field) . The next step is to appoint an architect to carry out the design. Even if the title deed registers the property as a building site, it is recommended, however that you go through the motions of checking the various prerequisites for development. There is an abundance of well qualified architects on the island and many capable technicians as well.

Architect fees range from 4% -6% (on the building cost) but you can agree also on a fixed fee. We suggest that you appoint an architect for the purpose( not an engineer or technician) . The prevailing fees are 8% on the building cost for a complete set of architectural plans and 6% for supervision( including the issuing of certificates) . If you are at a loss as to the choice of a suitable consultant, seek the advice of the Registrar of the Association of Architects& Engineers( all licenced architects must be registered) . In addition a 5% -2% is payable for the structural design and 3% for structural supervision. Please bear in mind that in case of large buildings you may be able to negotiate a lower fee( as also in the case of repetitive work) .

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